THE HEADLINE THAT IS OBAMA'S WORSE FEARS...

[matchingmole]

Originally Posted by CuteOldGuy

Non-violent revolution. Peaceful civil disobedience. That's the only way.

That'll work.

[i'va biggen]

Originally Posted by Whirlaway

As Americans catch on to the concept that Obama is part of the problem; this headline is foreboding...........tick, tick, tick.

November could become an electoral wipe out.

"Fed: Americans’ wealth dropped 40 percent"


http://www.washingtonpost.com/busine...CVV_story.html

the reason the wealth dropped,and the middle class took the biggest hit,was because of the housing bubble bursting.If you can show me how that was Obama's fault I will give you a A

[Whirlaway]

That message is a dead horse. Even Obama has given up on trying to get votes using your excuse. Placing blame won't fly. It's what he has done/hasn't done to solve the problem since coming into office. Again, he doesn't have any accomplishments to run on. Why do you liberals keep hitting your head on that stubborn fact?

Obama is President, he has been a failure. He will get booted; no matter how hard you try to explain away his failures. Ain't gonna work.

Originally Posted by ekim008

the reason the wealth dropped,and the middle class took the biggest hit,was because of the housing bubble bursting.If you can show me how that was Obama's fault I will give you a A

[Whirlaway]

I hope Obama campgain's with your defense of his failures:

"It Isn't My Fault"

Originally Posted by ekim008

the reason the wealth dropped,and the middle class took the biggest hit,was because of the housing bubble bursting.If you can show me how that was Obama's fault I will give you a A

[joe bloe]

Originally Posted by ekim008

the reason the wealth dropped,and the middle class took the biggest hit,was because of the housing bubble bursting.If you can show me how that was Obama's fault I will give you a A

The bubble was mostly the fault of the Democrats. They were the driving force behind lending to people who weren't qualified. The banks are federally regulated and the feds are constantly checking on the percentage of loans made to minorities. In order to meet their racial and ethnic quotas, the mortgage lenders relaxed underwriting standards. The Community Reinvestment Act was signed into law under Carter and greatly expanded under Clinton. The CRA required lenders to make mortgage loans in blighted areas that did not provide adequate collateral.

Francis Fox Piven and Richard Cloward are college professors that devised a strategy of collapsing the federal government by run away spending (Cloward and Piven Strategy of Manufactured Crisis). They were both present at the signing ceremony when Clinton expanded the CRA.

Pressure was placed on the big banks to make mortgage loans regardless of credit or income. FNMA aggressively purchased toxic loans and essentially told the banks to lend to anyone that walked through the door. Federal regulators turned a blind eye to Wall Street buying toxic mortgage loans and reselling the debt disguised as AAA rated bonds.

No, Obama isn't to blame for the housing bubble, but his socialist Democrat pals are to blame.

[Whirlaway]

Read the Tea Party leaves my Obamazombie fiends, you denied the facts on the ground in Wisconsin and got shellacked! The same fate awaits you in November. No good news is coming your way between now and then.

[i'va biggen]

Originally Posted by joe bloe

The bubble was mostly the fault of the Democrats. They were the driving force behind lending to people who weren't qualified. The banks are federally regulated and the feds are constantly checking on the percentage of loans made to minorities. In order to meet their racial and ethnic quotas, the mortgage lenders relaxed underwriting standards. The Community Reinvestment Act was signed into law under Carter and greatly expanded under Clinton. The CRA required lenders to make mortgage loans in blighted areas that did not provide adequate collateral.

Francis Fox Piven and Richard Cloward are college professors that devised a strategy of collapsing the federal government by run away spending (Cloward and Piven Strategy of Manufactured Crisis). They were both present at the signing ceremony when Clinton expanded the CRA.

Pressure was placed on the big banks to make mortgage loans regardless of credit or income. FNMA aggressively purchased toxic loans and essentially told the banks to lend to anyone that walked through the door. Federal regulators turned a blind eye to Wall Street buying toxic mortgage loans and reselling the debt disguised as AAA rated bonds.

No, Obama isn't to blame for the housing bubble, but his socialist Democrat pals are to blame.

I don't know how you could type this with a straight face.Too damn silly to even reply too.

[joe bloe]

Originally Posted by ekim008

I don't know how you could type this with a straight face.Too damn silly to even reply too.

You're not capable of writing an intelligent response; so you pretend my post isn't worth responding to. You're not fooling anyone.

[jakemar47]

You Republicans can't even read the story correctly!!! The same policies of tax cuts for the wealthiest 3% of America (which is what Romney is preaching) and an unchecked financial industry is exactly what put this world in the crisis of 2008, and you want to go back to the same worn out ideas?

When 68% of the income growth during the Bush tax cut years of 2002-2009 when to the upper 3% of Americans what do you expect would happen to the rest of our nest eggs? You people don't get it......until we change the banking and financial system....."too big to fail" will happen again........and you poor smucks who vote for the wealthy will get to bail their asses out again..........!

What did you want the President to do...sit idle and do nothing. While we were passing a $780 Billion stimulus which $200 Billion was tax cuts, the Chinese were spending $1.8 Trillion propping up there economy. This was a world wide collapse brought on by gamblers on Wall Street who became wealthier and got the government to cover their losses.......unfucking believable.......and you...what I can only describe as uniformed.....want to go back to that?

[jakemar47]

You need to get your facts straight. The CRA was to help urban development, not give loans to undeserving people; it was not EXPANDED under Clinton and happened 30 years ago. The largest credit growth in this country took place during the W Presidency and total control of the House and Senate by the Republicans. Stop re-writing history! You are entitled to your own opinion, not your own facts.
Credit Default Swaps which were invented on Wall Street by traders in Lehman Brothers and other major financial institutions were the SOLE reason for the crash of 2008! They gambled and they lost and they took the entire financial world with them........to blame this on the hard working middle class and lower income people of this country is a fucking sin!

[WTF]

Originally Posted by joe bloe

The bubble was mostly the fault of the Democrats. They were the driving force behind lending to people who weren't qualified. The banks are federally regulated and the feds are constantly checking on the percentage of loans made to minorities. In order to meet their racial and ethnic quotas, the mortgage lenders relaxed underwriting standards. The Community Reinvestment Act was signed into law under Carter and greatly expanded under Clinton. The CRA required lenders to make mortgage loans in blighted areas that did not provide adequate collateral.

Francis Fox Piven and Richard Cloward are college professors that devised a strategy of collapsing the federal government by run away spending (Cloward and Piven Strategy of Manufactured Crisis). They were both present at the signing ceremony when Clinton expanded the CRA.

.

This is about as dumb as saying Cow farts are causing Global warming.

Seriously joe, if you recieved that BS in an e-mail, you need to block that stupid SOB from ever sending you anything ever again. You sound retarded saying something so ignorant.

Originally Posted by joe bloe

Federal regulators turned a blind eye to Wall Street buying toxic mortgage loans and reselling the debt disguised as AAA rated bonds.

.

If that were the case...and it is not but say it was...your answer seems to be to just forget about regulations.

Not throw the inept Federal regulators in jail ( along with all who went along with the phoney BS) who was not doing his job and hire competent regulators. How stupid is that? If you have say a crooked Cop(s)...should we then just do away with all laws? That is wtf you are saying. Why have any government? Just let two parties do a business transaction and if one fucs the other, let them settle it amongist themselves. Why should my tax dollars go into helping one or the other?

[Whirlaway]

I think this tired old defense of Obama 's failures has been retired by the Obama 2012 campgain. It isn't / hasn't worked. Try something new, maybe talk about his accomplishments! !

Originally Posted by jakemar47

You Republicans can't even read the story correctly!!! The same policies of tax cuts for the wealthiest 3% of America (which is what Romney is preaching) and an unchecked financial industry is exactly what put this world in the crisis of 2008, and you want to go back to the same worn out ideas?

When 68% of the income growth during the Bush tax cut years of 2002-2009 when to the upper 3% of Americans what do you expect would happen to the rest of our nest eggs? You people don't get it......until we change the banking and financial system....."too big to fail" will happen again........and you poor smucks who vote for the wealthy will get to bail their asses out again..........!

What did you want the President to do...sit idle and do nothing. While we were passing a $780 Billion stimulus which $200 Billion was tax cuts, the Chinese were spending $1.8 Trillion propping up there economy. This was a world wide collapse brought on by gamblers on Wall Street who became wealthier and got the government to cover their losses.......unfucking believable.......and you...what I can only describe as uniformed.....want to go back to that?

[joe bloe]

Originally Posted by jakemar47

You need to get your facts straight. The CRA was to help urban development, not give loans to undeserving people; it was not EXPANDED under Clinton and happened 30 years ago. The largest credit growth in this country took place during the W Presidency and total control of the House and Senate by the Republicans. Stop re-writing history! You are entitled to your own opinion, not your own facts.
Credit Default Swaps which were invented on Wall Street by traders in Lehman Brothers and other major financial institutions were the SOLE reason for the crash of 2008! They gambled and they lost and they took the entire financial world with them........to blame this on the hard working middle class and lower income people of this country is a fucking sin!

Yes the CRA was EXPANDED under Clinton on April 15, 1994; that's 18 years ago.

Why did the democrats cause the financial meltdown?

Under President Jimmy Carter, the Community Reinvestment Act (CRA) was passed. It required federal financial institutions to encourage banks to give home loans to persons with little credit and low income. Economist Russell Roberts said that the CRA played a major role in creating the sub-prime mortgage crisis in the U.S.

Under Bill Clinton, the CRA was expanded and Clinton set targets for low-income home ownership at the Department of Housing and Urban Development and at Fannie Mae and Freddie Mac. Banks were forced by the federal government to provide bad loans to unqualified people.

http://www.bubbleeconomy.com/cause-o...ncial-meltdown

Here's How The Community Reinvestment Act Led To The Housing Bubble's Lax Lending

Earier this week I noted that I had changed my mind on the Community Reinvestment Act.
Contrary to my initial conclusion, the evidence is overwhelming that the CRA played a significant role in creating lax lending standards that fueled the housing bubble. Once I realized this, I had to abandon my suspicion that the anti-CRA case was a figment of the rhetoric of Republicans attempting to distract attention from their own role in the mortgage mess

Read more: http://www.businessinsider.com/the-c...#ixzz1xYG86evr

Community Reinvestment Act Is Still Wreaking Havoc

Your Dec. 22 editorial "What Fannie and Freddie Knew" talks about the SEC lawsuits against former Fannie and Freddie executives revealing a trail of evidence showing how these companies "turbocharged" the financial crisis.The real story started years ago. In 1977, Jimmy Carter signed the Community Reinvestment Act (CRA) into law. But this law had no teeth, no way to require lenders to lower their standards and to make subprime loans.

Enter Bill Clinton. In 1994, President Clinton directed 10 agencies to issue an ultimatum to banks and mortgage lenders to ease credit for lower-income minorities or face investigations for lending discrimination and suffer the related adverse publicity. This ultimatum was signed by HUD Secretary Henry Cisneros, Attorney General Janet Reno, Comptroller of the Currency Eugene Ludwig and Federal Reserve Chairman Alan Greenspan, along with the heads of six other agencies. Mr. Clinton also ordered Fannie and Freddie to buy these mortgages from the banks.

http://online.wsj.com/article/SB1000...015102330.html

[WTF]

Originally Posted by joe bloe

Yes the CRA was EXPANDED under Clinton on April 15, 1994; that's 18 years ago.

. In 1977, Jimmy Carter signed the Community Reinvestment Act (CRA) into law. But this law had no teeth, no way to require lenders to lower their standards and to make subprime loans.



http://online.wsj.com/article/SB1000...015102330.html

So in 1977 the CRA caused the housing bubble of 2008.

You sir are an idiot if you believe that. THe guy is an idiot for writing it.

That is like blaming OJ's mother for Nicole's death. Yes had she not had OJ, Nicole would be alive but that is one helluva of a strech to blame OJ's mother for Nicole death. Zimmerman mother must be responsible for Martin's death!

The repeal of G/S opened the door, AIG insuring bundled crappy paper was the final straw, the turbo booster. There was a bunch of crazy shit in the middle of those two things, Low interest rates, rating agencies fucking up... Deregulation led us down this road, not over regulation. You need to google moral hazzard, my friend.

[i'va biggen]

Originally Posted by joe bloe

You're not capable of writing an intelligent response; so you pretend my post isn't worth responding to. You're not fooling anyone.

ok try this on for size,the housing bubble was created by one thing GREED they ran the housing market like used cars.